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The Balance Sheet of the equal MVR Partnership on August 31, 2023 is as follows, Cash - $300,000 (Adjusted aasis), $300,000 (Fair Maket Vahuen, Unreallred
The Balance Sheet of the equal MVR Partnership on August 31, 2023 is as follows, Cash - $300,000 (Adjusted aasis), $300,000 (Fair Maket Vahuen, Unreallred Receivables - \$.0- (Adjusted Basis); $60,000 (Fair Market Value); Capital Assets - \$210,000 (Adjusted Basis), $450,000 (fair Markat Valuex Fotai Assets - \$S10,000 (Adjusted Basis); \$220,000 (Fair Market Value); Total Liabilities And Partners' Capital - $510.000 (Adjusted Basis); $810,000 (Fair Market Value). The Partneruip makes a Liquidating Distribution to Mercedes of Cash of $50,000, Unrealized Recelvables of $20,000 and Capital Assets worth (fair Market Valuei $150, 000 . The remaining partners assume Mercedes' share of the Partnership Liabilities. Mercedes' basis in the distributed Capital Assets is: $10,000.$20,000$70,000 50
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